Deposit Takers Act 2023

Licensing of deposit takers - Appeals

56: Appeals against licensing and fit and proper decisions

You could also call this:

"Challenging the Bank's decisions: your right to appeal to the court"

Illustration for Deposit Takers Act 2023

You can appeal to the court if the Bank makes a decision you do not agree with. The Bank's decision might be to not give you a licence or to not approve you as a director or senior manager under subpart 4. You can also appeal if the Bank decides to remove you as a director or senior manager under subpart 4, which you can read more about by following the link to subpart 4.

You might want to appeal if the Bank declines to issue a licence to you. The Bank's decision to decline a licence or approval is something you can appeal to the court about. This is also the case if the Bank decides to remove you as a director or senior manager, and you can find more information about this in subpart 4.

If any of these decisions are made about you, you have the right to appeal to the court. The court will then consider your appeal and make a decision. You can find more details about the rules for directors and senior managers by looking at subpart 4.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS475631.


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"Telling people when a licence is cancelled"


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57: Appeals against other decisions of Bank on questions of law only, or

"Challenging the Bank's decisions about licences or approvals in court"

Part 2Licensing of deposit takers
Appeals

56Appeals against licensing and fit and proper decisions

  1. A person may appeal to the court against a decision of the Bank under this Part to—

  2. decline to issue a licence to the person; or
    1. decline to approve the person as a director or senior manager under subpart 4; or
      1. remove the person as a director or senior manager under subpart 4.